15 January 2021

PayPal now fully owns its Chinese arm  

Written By FinTech Alliance

PayPal now fully owns its Chinese arm  

Payments giant PayPal has taken full ownership of its GoPay platform in China.  

In Brief:  

  • PayPal has acquired the remaining 30% of the business.  

  • It bought 70% of the business a year ago, becoming the first foreign payments provider in China.  

  • Now, it is the first foreign firm in the country with full ownership of its payments business.  

 

What does this mean?  

This is not just a huge milestone for PayPal, but a significant moment or a country that has traditionally been strict about foreign businesses, normally stipulating joint ventures with domestic companies.  

Read more here.  

 

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